WITH the release of the new joint-venture guidelines, the National Economic and Development Authority (Neda) said it is “hopeful” that the private sector would respond by increasing their participation in public infrastructure projects.

Speaking at a forum on the guidelines at the Ateneo Professional Schools in Rockwell, Neda assistant director general for infrastructure Ruben Reinoso said private-sector participation is an essential ingredient in sustainable growth.

“As you well know, there is great demand for investments in the country to support the growing economy, which triggers more demand for infrastructure, among others. Unfortunately, the government does not have sufficient resources to finance all of its investments. It is in this context that the government is partnering with the private sector to be able to finance much-needed investments to support an anticipated growth in the economy,” said Reinoso.

Reinoso noted that the guidelines were formulated in consultation with the private sector and civil society to ensure that their interests are protected as well.

“The joint-venture guidelines were formulated as early as last year and have undergone a very thorough consultative process. These were subjected for deliberation by the Neda Board Committee on Infrastructure, Government Procurement Policy Board [GPPB], as well as the participation of most of government corporations and private sector chambers that provided inputs to the formulation process. The guidelines were finalized and submitted to the Neda Board Cabinet Group meeting on April 8,” Reinoso.

The Neda official also pointed out that it has always been a government policy to partner with the private sector in funding and implementing development projects, especially when it comes to infrastructure.

“One of the policy thrusts contained in the Medium-Term Philippine Development Plan is to encourage private-sector participation in undertaking development projects for the furtherance of the Philippine economy. It is in this light that pursuant to Executive Order 423, which sets the procedures for processing and approval of government contracts, Neda was mandated, in cooperation with the GPPB, a set of guidelines that will govern joint-venture agreements between the government and private sector entities,” he said.

The guidelines have taken effect on May 2.

No estimates were provided as to how much investments could come in as a result of the issuance of the guidelines.

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MADRID, Spain—More than 500 liters of coffee, 3,000 kilograms of biscuits and bite-size cakes, and 4,500 bottles of water are expected to be consumed at the Asian Development Bank’s (ADB) 41st Annual Governors’ Meeting (AGM), still making it an event of huge proportions.

WITH the release of the new joint-venture guidelines, the National Economic and Development Authority (Neda) said it is “hopeful” that the private sector would respond by increasing their participation in public infrastructure projects.

THE consumer group People Opposed to Warrantless Electricity Rates (Power), urged the government to scrap the 12-percent value-added tax (VAT) on electricity if it is really serious in lowering power rates.

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CONSIDERING the huge potential in harnessing wind energy in the country, several companies have expressed interest and commitment to put up wind farms in the country, particularly in the Ilocos, Palawan and Mindoro areas.

MUNICIPAL fishermen based in Cebu are now gearing up for court battle against the Japan Petroleum Exploration Ltd. (Japex) over the controversial oil-and-gas exploration project at the Tañon Strait, a protected seascape.